Moody Aldrich Partners LLC Reduces Stock Position in Fabrinet (NYSE:FN)

Moody Aldrich Partners LLC cut its stake in Fabrinet (NYSE:FN) by 3.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 13,524 shares of the technology company’s stock after selling 428 shares during the quarter. Moody Aldrich Partners LLC’s holdings in Fabrinet were worth $2,974,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of FN. Wedge Capital Management L L P NC purchased a new stake in Fabrinet during the 4th quarter valued at $63,222,000. Whale Rock Capital Management LLC boosted its holdings in shares of Fabrinet by 25.8% during the 3rd quarter. Whale Rock Capital Management LLC now owns 855,767 shares of the technology company’s stock valued at $202,338,000 after purchasing an additional 175,684 shares during the last quarter. Clearbridge Investments LLC bought a new position in shares of Fabrinet during the 2nd quarter valued at about $27,911,000. World Investment Advisors LLC bought a new position in shares of Fabrinet during the 3rd quarter valued at about $20,187,000. Finally, DekaBank Deutsche Girozentrale raised its position in shares of Fabrinet by 3,831.4% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 82,088 shares of the technology company’s stock valued at $19,465,000 after buying an additional 80,000 shares in the last quarter. 97.38% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on FN. Needham & Company LLC started coverage on shares of Fabrinet in a research report on Tuesday, November 5th. They set a “buy” rating and a $280.00 target price on the stock. B. Riley lowered shares of Fabrinet from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $194.00 to $178.00 in a research report on Wednesday, November 20th. Finally, Barclays initiated coverage on shares of Fabrinet in a research report on Thursday, November 14th. They set an “equal weight” rating and a $292.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $252.14.

Fabrinet Stock Performance

Fabrinet stock opened at $206.63 on Wednesday. The company’s 50 day simple moving average is $232.87 and its 200-day simple moving average is $235.73. The company has a market capitalization of $7.49 billion, a price-to-earnings ratio of 24.45 and a beta of 0.93. Fabrinet has a 1 year low of $159.69 and a 1 year high of $281.79.

Fabrinet (NYSE:FN) last announced its earnings results on Monday, November 4th. The technology company reported $2.39 earnings per share for the quarter, topping the consensus estimate of $2.38 by $0.01. Fabrinet had a net margin of 10.28% and a return on equity of 18.08%. The firm had revenue of $804.20 million for the quarter, compared to the consensus estimate of $771.24 million. During the same period in the prior year, the firm earned $1.78 EPS. The firm’s revenue for the quarter was up 17.3% on a year-over-year basis. Equities analysts expect that Fabrinet will post 9.1 earnings per share for the current year.

Fabrinet Company Profile

Fabrinet provides optical packaging and precision optical, electro-mechanical, and electronic manufacturing services in North America, the Asia-Pacific, and Europe. The company offers a range of advanced optical and electro-mechanical capabilities in the manufacturing process, including process design and engineering, supply chain management, manufacturing, printed circuit board assembly, advanced packaging, integration, final assembly, and testing.